Done Deal: Conan Out For $30-$40 Million Payout
The Wrap reports Conan is out, walking away from The Tonight Show with a $30 million severance. OK, its not quite a done deal yet , the deal has yet to be signed and NBC is expected to make a statement later today this weekend. Update: the deal has been widely reported to be between $30-$40 million at this point, though The Wrap’s report suggest the payout goes down if/when Conan lands somewhere else.
No specifics yet on how long Conan’s non-compete will last or whether Conan will still do the Tonight Show next week.
NBCU President and CEO Jeff Zucker, NBCU Television Entertainment Chairman Jeff Gaspin and Co-Chairman NBC Entertainment and NBC Televison Studio Marc Graboff were involved in the final all-night negotiations. The deal was brokered by Universal CEO Ron Meyer, who was brought in on Tuesday, after talks had reached an impasse.
But subsequent to the B&C report above (albeit by only minutes) Variety, THR and others are reporting a version similar to The Wrap’s. It seems like what NBC denied to B&C was that the deal is done; and even The Wrap report noted in its first version that it wasn’t signed yet. The Wrap did get wrong that the deal would get announced Friday night, but multiple outlets, including The Wrap, now report a weekend resolution is likely.